The two sides play their final warm-up match on Saturday ahead of the new Premier League campaign.
"I think that will be the ultimate test," Walcott told the club's official website. "Man City are very strong this season. They know what they want to do but we know how strong we are.
"It will be a chance for us all to experience the tempo of the Premier League and what it's going to be like. It's going to be a good test but everyone will be ready for it."
The Gunners get their league campaign underway at home to Aston Villa on August 17.